The holidays are just around the corner, and you know what that means, Filipinos are back in travel mode! Whether it’s a family vacation, barkada getaway, or a long-awaited solo trip abroad, we Pinoys love planning our holidays early to score the best deals.
But while we’re busy comparing flight prices and hotel rates, there’s one sneaky travel cost that often slips under the radar: ATM and currency conversion fees. Those tiny charges you ignore? They can pile up fast and quietly drain your travel budget-money that could’ve gone to pasalubong or an extra adventure.
The Hidden Cost of Withdrawing Abroad
According to a recent report by Wise, the global tech company making international money management smarter, some of Filipinos’ favorite travel spots are actually among the most expensive places to withdraw cash overseas.
Here’s how the top destinations ranked by ATM withdrawal fees:
- Vietnam 27.10%
- South Korea 5.80%
- Thailand 2.50%
- USA 2.05%
- Singapore 1.28%
- Japan 0.87%
- UAE 0.81%
- Taiwan 0.53%
- Switzerland 0.12%
- Hong Kong 0.03%
(Data source: BusinessMirror, August 26, 2025)
These fees might look small, but when you’re withdrawing several times during a trip, they can take a big bite out of your travel fund. So before you hit “book now,” it pays to plan smart because every peso counts this season.
5 Smart Money Moves for Holiday Travelers
1. Set a Realistic Budget (and Stick to It!)
Use the 50-30-20 rule: 50% for needs, 30% for wants, and 20% for savings. Before your trip, check cost-of-living sites or travel vlogs for daily expense estimates. A bit of research now can save you from last-minute overspending later.
2. Save Automatically
If you’re planning a big trip next year, start saving as early as now. Set up automatic transfers to a separate account or savings “jar.” For instance, depositing ₱3,000 monthly will give you ₱36,000 in a year enough for a 5-day trip to Thailand!
Apps like Wise even let you save in multiple currencies using their Jars feature, so your travel funds stay organized and conversion-ready.
3. Choose Practical Accommodations
Hostels, serviced apartments, or Airbnbs with kitchens can save you thousands in meal costs. Booking early also gives you more affordable and better-quality options, especially during peak season.
4. Avoid Foreign Transaction and DCC Fees
Many traditional cards charge up to 3% in foreign transaction fees. Plus, some merchants use Dynamic Currency Conversion (DCC) charging you in pesos instead of the local currency at poor exchange rates.
Pro tip: Always choose to pay in the local currency to avoid hidden charges.
5. Spend Like a Local with Wise
Most banks secretly add margins to exchange rates, meaning you pay more than you should. The Wise card solves this with Smart Conversion technology, automatically selecting the currency with the lowest fee for each transaction.
You get the real mid-market rate, no hidden charges, and instant access to over 40 currencies perfect for frequent travelers.
And if you ever run short on funds, your family can easily send money to your Wise account for instant access while abroad.
Spend Wisely, Travel Freely
As the Christmas rush and school holidays approach, make sure your travel plans and your wallet are ready. With the right tools and a little planning, you can enjoy your dream vacation without worrying about surprise fees.
Ready to make your holiday trips todo sulit? Download the Wise app or visit wise.com to start managing your travel funds smartly and confidently.